Via Gary, Qatar Airways and Etihad Airways have special offer codes for 50% off the Park Hyatt Maldives. The Qatar Airways special offer code is PHMQA and valid for stays through November 30, 2012. The Etihad Airways special offer code is PHMEY1 and valid for stays through December 31, 2012.
Rates at this hotel usually start at $750 per night, so through this promotion that’s lowered to $375. Interestingly only the Park Villa room is actually 50% off, while the discount on the Park Pool Villa and Park Water Villa is also $375, which is less than 50% off.
As Gary notes, this is actually a really interesting situation, since you can redeem 22,000 Gold Passport points per night for the Park Villa room instead. I recently valued Hyatt points at 1.6 cents each, making 22,000 points worth $352, meaning this would more or less be a “break even” redemption (or maybe even less when you factor in the points and elite stay credit you earn on a paid stay).
I think the major thing preventing this from being really tempting is that if you go all the way to the Maldives you want a Park Water Villa (overwater bungalow), which they’ll let you buy up to for $350 over the Park Villa rate.
So if you wanted an overwater bungalow you’d end up paying $375 plus the $350 upgrade surcharge, plus the transportation costs, which makes this a lot less tempting of a deal.
The other interesting restriction is that the rate details claim you have to earn Etihad or Qatar miles for the stay instead of Hyatt points. I’m not sure how strictly that’s enforced, though it’s something to keep in mind.
Anyway, more than the actual deal, I find the psychology behind this points game to be so interesting. If I’m being honest I’d feel much better about staying at the Park Hyatt Maldives by just paying the $350 upgrade surcharge as opposed to $725 per night for an overwater bungalow. Yet based on my math that really doesn’t make sense. At the end of the day I do some mattress running and indirectly pay for those points, so I really shouldn’t redeem them at a suboptimal cent per point ratio.
And at the same time I’d much rather redeem my points for a stay at the Park Hyatt Maldives when I know the cheapest rate is $750 vs. $375. So this offer subconsciously makes me less interested in staying at the Park Hyatt Maldives. That’s just plain f*&^#$ up! I want my points to get me a $750 room and not a $375 room. 😀
Am I the only one? Don’t you just love our little hobby?
All of the above is a bit tongue in cheek, because at the end of the day points are there to be enjoyed. While you should do what you can to maximize the value of your points, they’re only worth as much as the memories you can create with them. Hopefully that can’t be quantified with a cent per point ratio!